End Bailouts and Government Ownership in Fannie/Freddie, GM, AIG, and Other Entities

On October 3, 2010, the federal government’s authority under the Troubled Asset Relief Program (TARP) officially expired. Rushed through amid fears of financial Armageddon, the thrust of the program shifted several times from buying “toxic” mortgage securities no one would touch to buying ownership stakes in order to provide a “capital cushion” to relatively healthy financial institutions—and even to propping up automakers.